To complete during the budgeting process is to develop a contingency plan for their organization..?

Question

One of the tasks that managers at Greensboro Company have to complete during the budgeting process is to develop a contingency plan for their organization in case a downturn occurs in their business. This budgeting requirement is an example of:

A) budget coordination.

B) performance measurement.

C) planning.

D) taking corrective action.

Answer 1

C. Planning. This should include several plan or best/ worst case scenario/ contingency.

A = during the creation/ accumulation of the budget

B = When the actual starts to come in & being compared with the budget

D = When performance measurement analysis conclude that something is not right & needs to be change

Cheers...

Answer 2

C.

Develop a contingency plan is to plan.

Answer 3

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